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Old 04.01.2013, 16:53
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Re: Swiss bank Wegelin fights US summons

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All the non-US business of Wegelin has been sold to Reiffeisen quite some time ago. Wegelin only kept the US customer with the purpose to deal with the allegation. If I rembember correctly than the partners of Wegelin are privately liable. Thus they may have an interest in settling the matter.
I would guess the reason for settling like this is described in some confidential clauses in the settlement agreement; for example, protection from prosecution (this is an example, I assume no such clauses exist).
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